Sintex Industries, a leading plastics product manufacturer has recorded a 21.07% surge in its consolidated net profit for the three month period ended December 31, 2008.

The company has posted a net profit of Rs 70.8 crore against Rs 58.51 crore for the same quarter year ago (Dec 2007).

In a filing to the Bombay Stock Exchange, Sintex Industries informed that its total income for the quarter ended December 31, 2008 zoomed 36.12 percent to Rs 8,453.49 million as compared to Rs 6,210.39 million during the corresponding quarter of the last year.

While commenting on the occasion, Mr. Amit Patel, Sintex Industries Managing Director stated, “Its been a challenging quarter for Sintex considering the global and domestic businesses have shown good growth rates despite signs of a slowdown in the domestic economy.”

According to sources, the conglomerate has registered a steady growth in its standalone net profit for the quarter ended December 2008. During the quarter, the profit of the company climbed 13.85% to Rs 630.46 million from Rs 553.77 million in the same quarter, last fiscal.

The company shares, on Friday (Jan 09) closed at Rs 193.85, down Rs 11.35, at the Bombay Stock Exchange (BSE). The total volume of shares traded was 27,963.